Ken,

Thanks for the update on Renaissance. Your post was very helpful to me as we get a significant number of buyer inquiries about this development from our website. Hopefully, the board will remain active and be able to work through the challenges that face this community.

Regards,
Mark

Ken,

Thanks for the update on Renaissance. Your post was very helpful to me as we get a significant number of buyer inquiries about this development from our website. Hopefully, the board will remain active and be able to work through the challenges that face this community.

Regards,
Mark

OK. Here is the current situation and I am setting the record straight. I speak from authority as President of the Association, Realtor and owner at Renaissance. This was a 2006 condo conversion of an apartment complex originally built in 1994/95. The developer has gone bankrupt. As a result of market condtions, many owners found themselves "underwater" and chose to walk from their property. However, there is an active Board of Directors that meets monthly. The Association is not defunct. At one time probably 80% of the owners were not paying their fees. That is down to about 40% as a result of the many foreclosures. The Association is actively pursuing legal action against the remaining delinquents. As a result collections are up and the buildings, grounds, pool and fitness center are well maintained.

The Association is solvent and pays it's bills on time. The rumors that the Association is bankrupt and owes $250K are entirely untrue. The Association is in good standing with the state of Florida. Check sunbiz.com for Renaissance Ft Myers Condominium Association, Inc.

There are current issues. Out of 112 units there are about 12 that have serious mold issues. County Code Enforcement is after the owners to repair the units. Some banks have delayed foreclosure proceedings. That leaves a unit in a non-payment status and that is a problem. There is reported to be polybuteylene plumbing in each unit. This is a pipe material that was legal when installed in 1995 but was banned by the federal government in 1996 due to evidence of premature failure. Owners are encouraged to replace the plumbing at an estimated cost of $2-3,000 per unit. As a result of the many delinquent owners, the Association has not been able to carry hazard, wind or flood insurance. As conditions improve, The Association may have insurance in place early in 2010.

Renaissance is not for the faint of heart. You can only purchase for cash and some units require moderate to extensive rehab. There is a 3/2 for sale right now (10/31/09) for $4,900. If you are a gambler this might be for you. The community is not out of the woods but things are looking brighter each day.

Hello again Gerry - There have been quite a number of foreclosures and short sales in Renaissance Village within the past year or two which would make me leary of the health of any association that has gone through so much turnover. Remember, an association derives their revenue from the condo owners and if you have so many foreclosures, those owners are not paying their condo dues. Yes, you can get something very cheap in there, however as shaky as it is, it may not be a good bargain in the long run.
Sincerely,
Jeanine Standing Bear
Sandals Realty of Fort Myers, Inc.
#239-340-5600
email: jstandingbear@yahoo.com

you really need to get in touch with the condo association (your agent should be able to help) Ask questions regarding current and expected health of the association., As these units are purchased, fees are paid again and associations get healthier. that is what everyone hopes for. But currently, I have heard the same sad tales as below.

Good question!! It sounds like it should'nt be out there

The Renaissance Village condo association is currently defunct. There have been mold problems at several of the units as well. The last four units to sell at Renaissance Village sold for: $13,100; $28,840; $7,000 and $16,000.

There are better bets in the market than this place.

Gee - is it still there or has it been bull dozed yet???